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What price will a finance company pay to a merchant

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Reference no: EM132590015

Question 1: What price will a finance company pay to a merchant for a conditional sale contract that requires 18 monthly payments of $251 beginning in five months? The finance company requires a rate of return of 19% compounded monthly. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM132590015

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